Saroj Kumar Choudhury Launches Open Offer for Oxford Industries Ltd, Targeting 26% Stake
Mr. Saroj Kumar Choudhury has initiated an open offer to acquire a significant stake in Oxford Industries Limited (OIL). The offer aims to acquire up to 15,45,271 Equity shares, representing 26.00% of the Target Company's fully paid-up equity and voting share capital, at a fixed price of Rs. 5/- (Rupees Five Only) per share. The open offer period is scheduled to open on Friday, June 12, 2026, and close on Thursday, June 25, 2026.The transaction follows an initial agreement for substantial acquisition through a Share Purchase Agreement (SPA).
Details of the Initial Share Purchase Agreement
The open offer is necessitated by Mr. Choudhury's intended acquisition of a substantial controlling stake in OIL. Under the SPA, executed on March 12, 2026, Mr. Choudhury agreed to purchase 25,97,370 Equity shares, comprising 43.70% of the fully paid-up and voting equity share capital.These sale shares were acquired from multiple sellers, including Mazher N Laila, Ali Mazhar Laila, Farida Mazher Laila, Zainab Mazher Laila, Arefa Mazher Laila, and Fatema Shabbir Dalal. The total consideration for the sale shares was approximately Rs. 3.62/- (Rupees Three and Paisa Sixty-Two Only) per Equity Share.
The combined holdings of the sellers amounted to 25,97,370 shares, representing 43.70% of the company's capital.
Corporate and Financial Profile of Oxford Industries Ltd
Oxford Industries Limited, established with a history tracing back to 1980, operates in the textile segment. While its main objectives include manufacturing and dealing in natural and synthetic fibres, textiles, and readymade garments and hosiery articles, the company currently does not have a manufacturing facility.The company, whose registered office is in Andheri (East), Mumbai, Maharashtra, reported the following financial performance in lacs:
Profit and Loss Statement (Rs. in Lacs)
| Particulars | March 31, 2026 (Audited) | March 31, 2025 (Audited) | March 31, 2024 (Audited) | March 31, 2023 (Audited) |
|---|---|---|---|---|
| Revenue from Operations | 0 | 227.17 | 325 | 29.57 |
| Other Income | 70.07 | 0.01 | 0.02 | 0.00 |
| Total Income | 70.07 | 227.18 | 325.02 | 29.57 |
| Total Expenditure (Excluding Depr. & Interest) | 13.53 | 230.85 | 315.48 | 36.48 |
| Profit (Loss) before Depr., | 56.55 | (3.67) | 9.54 | (6.91) |
| Profit After Tax | 52.31 | (50.31) | 9.45 | (6.91) |
Balance Sheet Summary (Rs. in Lacs)
| Particulars | March 31, 2026 (Audited) | March 31, 2025 (Audited) | March 31, 2024 (Audited) | March 31, 2023 (Audited) |
|---|---|---|---|---|
| Net worth | (118.82) | (171.13) | (120.82) | (130.27) |
| Total Equity and Liabilities | 80.33 | 55.50 | 103.93 | 20.18 |
| Total Assets | 80.33 | 55.50 | 103.93 | 20.18 |
As of the date of the letter of offer, the shareholding pattern was structured as follows:
| Shareholder Category | Number of Equity Shares | %age of Equity Share Capital |
|---|---|---|
| Promoter & Promoter Group | 25,97,370 | 43.70 |
| Public | 33,45,980 | 56.30 |
| Total | 59,43,350 | 100.00 |
Open Offer Terms and Financial Commitment
The open offer is structured to acquire shares from the public shareholders. Assuming full acceptance, the maximum consideration payable by the Acquirer would be Rs. 77,26,355 (Rupees Seventy-Seven Lakhs Twenty-Six Thousand Three Hundred Fifty-Five Only), based on acquiring up to 15,45,271 equity shares at the price of Rs. 5/- per share.Mr. Choudhury provided a net worth of Rs. 194.35 lakhs as of March 12, 2026, which, along with liquid and tangible assets, provides sufficient financial resources for the commitment. The Acquirer has also deposited cash of Rs. 20.00 Lacs in an escrow account, exceeding 25% of the offer consideration.
The minimum lot size for the open offer is 1 equity share.
Timeline for the Open Offer
The key dates for the open offer include:| Activity | Original Date | Revised Date |
|---|---|---|
| Date of Opening of the Offer | 12.05.2026 | June 12, 2026 |
| Date of Closure of the Offer | 25.05.2026 | June 25, 2026 |
| Payment of Consideration for Acquired Shares | 09.06.2026 | July 10, 2026 |
The Acquirer, Mr. Saroj Kumar Choudhury, is 57 years old and currently resides in Uttar Pradesh. He holds 1,64,200 equity shares, representing 2.76% of the paid-up equity share capital, and is the Managing Director of the Target Company.
Eligible public shareholders, whether registered or unregistered, can participate in the offer by tendering their shareholding in whole or in part. Shareholders are cautioned that they will not be able to trade or withdraw shares after tendering them during the offer period, and they are solely responsible for their participation decisions.
Stock Price Movement
Oxford Industries Ltd. shares settled at ₹20.95 today, completing the week with a drop of 1.97%. The stock was completely flat throughout the session, with the intraday high and low both holding steady at ₹20.95.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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